REG - Circle Property PLC - Disposal of Victory House, Northampton

Circle PropertyAnnouncement

24/01/2023 16:30

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RNS Number : 7338N  Circle Property PLC  24 January 2023

24 January 2023

Circle Property Plc

("Circle", the "Company" or the "Group")

 

Disposal of Victory House, Northampton

 

Circle Property Plc (AIM: CRC), is pleased to announce, in line with its
disposal strategy, that it has exchanged contracts on the sale of Victory
House, 400 Pavilion Drive, Northampton ("Victory House") to Hilla Group
Northampton Limited at a sale price of £2.75 million. Completion is expected
by mid-March 2023.

 

Victory House comprises a 22,300 sq ft (2.072 sq m) office building that was
acquired by the Group in 2011 for £1.70 million. Profit before tax for the
year ended 31 March 2022 attributable to Victory House was £0.270 million and
the 31 March 2022 valuation was £3.20 million.

 

Following completion, the net proceeds from the disposal will be held as Group
cash and are expected to be returned to Shareholders through the proposed B
Shares Issues as announced by the Company on 20 January 2023, the first of
which is expected to occur in March 2023.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation (2014/596) which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time.

 

 

 Circle Property Plc                               +44 (0)20 7930 8503
 John Arnold, CEO

 Edward Olins, COO

 Cenkos Securities plc                            +44 (0)20 7397 8900
 Katy Birkin

 George Lawson

 Radnor Capital                                   +44 (0)20 3897 1830

 Joshua Cryer

 Iain Daly

 Camarco                                          +44 (0)20 3757 4992
 Ginny Pulbrook

 Toby Strong

 

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